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Steve Rosenthal escaped with his life when his condo building in Florida crumbled and left him homeless last month, but he still owes more than $100,000 on his mortgage.
Mr. Rosenthal (72) ..... soon received two small insurance checks for living expenses and personal property, but he was still waiting for his big payout. He expects it to be over six figures, but it will probably go to the bank to pay off the mortgage on a condo that no longer exists.
The Surfside collapse .... is causing new turmoil in Florida’s troubled insurance market
Days after the collapse, insurance companies sent letters threatening to cut off coverage to older buildings that did not pass mandatory safety inspections.
“It all comes down to profitability for the insurance companies,” Mr. Lopatin said. “And right now, writing business in Florida is not profitable.”
Collapse Raises New Fears About Florida’s Shaky Insurance Market
Mr. Rosenthal (72) ..... soon received two small insurance checks for living expenses and personal property, but he was still waiting for his big payout. He expects it to be over six figures, but it will probably go to the bank to pay off the mortgage on a condo that no longer exists.
The Surfside collapse .... is causing new turmoil in Florida’s troubled insurance market
Days after the collapse, insurance companies sent letters threatening to cut off coverage to older buildings that did not pass mandatory safety inspections.
“It all comes down to profitability for the insurance companies,” Mr. Lopatin said. “And right now, writing business in Florida is not profitable.”
Collapse Raises New Fears About Florida’s Shaky Insurance Market